Value Merchants, Inc

Article Abstract:

The share price of Value Merchants Inc (VMI), a retailer of assorted close-out merchandise, plunged by $4 for the trading week ending last May 8. 1992. It signals a negative growth for the company which may be attributed to the company's transfer to the New York Stock Exchange. VMI Pres and CEO Steven J. Appel maintains that expansion plans will push through. He is content with share values at $1.70-$2 for FY 1992 and predicts a share price of $2.50 or higher for FY 1994. VMI pays no dividends on the 7.2 million shares, and insiders continue to purchase shares at 21 3/8-22.

Hobby equipment industry, Value Merchants Inc.

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Michaels Stores, Inc

Article Abstract:

Michael's Stores Inc stock sustained a 13% price decline because of weak sales for Sep 1992. The hobbycrafts retailer claimed that firmer advertising campaigns from its rivals are mainly responsible for the poor sales. Michaels Stores CFO Don Morris, however, is contented with consensus estimates of 20 cents per share for the third quarter ended Oct 1992. CEO Sam Wily seems to share Morris' sentiment when his group acquired 100,000 more shares of Michaels, thereby, raising their stakes to 19.13%.

Retail Stores, NEC, Michael's Stores Inc.

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Caldor Corp

Article Abstract:

Caldor Inc's sales increase of 3.1% for the 1st qtr of FY 1992 fanned investors' hopes that their stake in the firm may still earn dividends. The firm previously caused its investors undue anxiety when the price of its shares plunged from $21 each during its initial public offering on Apr 24, 1992, to $5. Caldor's plans to improve its financial position include opening five stores in Rochester, NY, in 1993 and constructing a distribution facility in Newburgh, NY.

Department stores, Planning, Discount stores, Caldor Inc.

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